State Street - Waiting for State Street to change for the better..could take awhile | Glassdoor
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There are newer employer reviews for State Street

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Helpful (6)

"Waiting for State Street to change for the better..could take awhile"

StarStarStarStarStar
  • Work/Life Balance
  • Culture & Values
  • Career Opportunities
  • Comp & Benefits
  • Senior Management
Current Employee - Associate II in Boston, MA
Current Employee - Associate II in Boston, MA
Doesn't Recommend
Negative Outlook
Disapproves of CEO

I have been working at State Street full-time (More than 5 years)

Pros

Locations close to public transportation
Work from home access but needs to be approved in advance

Cons

Culture has become outsource, outsource, outsource
Lack of proper training programs..mostly online training that's not really job related
Work is being outsourced to departments that make errors and don't take responsibility
Lack of career roadmap..To advance, it's based on being buddy-buddy with management and talking about sports rather than being based on an individual's credentials
Low salary compared to competitors
Annual reviews/raises aren't based on employee performance but a mathematical formula based on employee's annual earnings..If your salary is too low based on the company's mathematical equation, most likely you wil receive little or no raise
Raises for 2012 nonexistent except for upper management..Bonuses not as much as the past
Reward system was discontinued with nothing to replace it
Employee feedback isn't taken seriously

Advice to Management

Don't blame managers for the company not handing out raises...Hard work goes unnoticed..If employees were appreciated more and paid fairly compared to other companies, maybe there wouldn't be so much employee turnover.Listen to the employees that are keeping the company afloat rather than force change and ideas upon them that are unproven and untested

Other Employee Reviews for State Street

  1. "Good starting point"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Custody Specialist in Boston, MA
    Current Employee - Custody Specialist in Boston, MA

    I have been working at State Street (Less than a year)

    Pros

    Good work/life balance, descent starting pay, learn basic level accounting.

    Cons

    Same stuff everyday, not every challenging, Need to really enjoy accounting to work here, no CFA or CPA contributions from the company unless you know someone. Not a lot of new things to learn on a daily basis. A lot of ridiculous amort policies need to be remembered, not all of the clients follow the same rules.

    Advice to Management

    Give more information.


  2. "Here's a company that cares about it's employees and the community"

    StarStarStarStarStar
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Comp & Benefits
    • Senior Management
    Current Employee - Project Manager in Boston, MA
    Current Employee - Project Manager in Boston, MA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at State Street full-time (More than 8 years)

    Pros

    - very involved in the community
    - opportunities are endless if you're willing to word hard and not be afraid to seek them out
    - global corporation provides a global network

    Cons

    - economy has limited pay increases over the past few years

    Advice to Management

    With less people doing the same/more work, doing away with pay increases is not sending the right message to staff (especially when we see senior executives making millions in salaries and bonuses). It is sending the wrong message.

There are newer employer reviews for State Street
There are newer employer reviews for State Street

See Most Recent

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